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Question By
lltay

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Poor Credit History - To remove "newer" cards or not.
My credit history is averaged at 3 Years, 11 Months due to obtaining multiple cards about a year and half ago. I was curious if it would be best for me to close these cards or leave them be. I do not need any of these cards. I would like to lower the amount of cards I have, but if it's going to negatively effect my credit then I obviously don't want to. Here are the ages of my cards:
12 Years, 8 Months
5 Years, 11 Months
5 Years, 9 Months
4 Years, 11 Months
4 Years, 1 Month
4 Years, 1 Month
2 Years, 4 Months
2 Years
2 Years
1 Year, 10 Months
1 Year, 10 Months
1 Year, 7 Months
1 Year, 6 Months

The ones I would want to remove would be one of the 2 years, and 3 of the 1+ years. I don't use them.

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In the most widely used FICO score models, they use both open and  closed accounts in calculating your age/average age of credit, closed account in good standing can last upto 10 years on your report from when it's closed, so your average age of credit won't change by closing a newer account for about 10 years. Therefore, your score won't change either.

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Closing a credit card account at best, your scores remains neutral. I am not saying don't ever close a credit card, however it would be for reasons other than to better your scores, because it won't. Likes if it's a secured card that do not graduate and you already have couple other unsecured cards, card(s) with very high fees or the company you have difficult time dealing with.

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Why would you want to close any of your open credit card accounts? Are they all pay off with a zero balance or did you run them up and pay them late? Need more info on the cards but if they were paid on time and show a good history of a good payment record, haveing open credit cards is typically a good thing that shows credit history and you should not close them.

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Closing credit cards will hurt your score.  Please read the articles here since it sounds like you need to develop a good understanding of how credit works.  I fou[nd the information very helpful.

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